Extension of Time for Filing

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Extension of Time for Filing

In taxes, the process by which one receives permission to file one's return at a later date. For example, in the United States, the deadline to file tax returns is April 15. If a taxpayer is unable to make this deadline, he/she may ask the IRS for an extension until October 15. In this case, October 15 is called the extension date.
References in periodicals archive ?
* Don't confuse filing an extension with extra time to pay.
Unfortunately, while the firm may have known Marvin and his balance sheet like the back of its hand, the firm missed the deadline for filing an extension for the estate tax return.
Winter Storms Riley and Quinn cut power for thousands making this deadline impossible and putting them at risk for delayed refunds and penalties, thankfully the IRS heeded Schumers calls and extended the deadline for filing an extension giving business owners across the state the opportunity to complete the necessary forms at a later date.
While a taxpayer may file a superseding return on or before the original due date of an income tax return, filing an extension will increase the period in which a superseding return may be filed.
However, the authors believe it should make no difference to the outcome; even if the taxpayer files the initial return before filing an extension, as long as the extension is filed on or before the original due date, it should be valid and operate to extend the due date of any superseding return.) The IRS determined that the filing of the initial Form 1120 did not revoke the remaining extension of time that it had granted through Sept.
Similarly, filing an extension may be good practice for a partnership that files Form 1065 and issues K-1s by the original due date.
Nothing in the board's ruling is earth-shattering, but it highlights the usefulness of filing an extension request along with a statement of use.
Filing an extension of the officers' terms requires that ministers adopt a law to raise the age of their retirement, the sources said.
* Issue a revenue procedure providing that the protest period for CEP taxpayers will be automatically extended an additional 60 days upon the taxpayer's filing an extension request with the District Director.
Don't miss the deadline for filing an extension. Don't bury your head in the sand if you're not going to get your return filed on time.
A third approach is to put the matter aside to a later date by filing an extension request.
The court distinguished the act of filing an extension form, which requires no special training or knowledge, from reliance on a practitioner for substantive tax advice.